Cryptocurrency: Facebook’s Libra – is this how we get to responsible fintech?

or the financial services industry, Facebook’s new crypto currency, Libra, is yet another warning that digital technology is chipping away at the foundation of traditional business models.

Given the proposition that crypto currencies can supplant sovereign money, bankers and consumer fintech companies are backed into a corner. Regulated institutions, at least, are incentivized to side with central banks who supply credit and liquidity, and with regulators who grant their operating licenses.

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